A tax expert in Arizona has some pointers to help you as the April 15th tax filing deadline approaches. Watch the video above for more.
April 15 is the deadline to file and pay your taxes, unless you file an extension. If your taxes aren't done yet, here are some tips from professionals to help you.Those are the famous words of Ben Franklin more than two centuries ago, and all these years later, those words still ring true.
“For the last several years, there’s been federal holidays and the tax deadline was on the 16th, 17th,” Ross said. “But this year, it’s on April 15, so make sure you are ready to file or get your extension done if you’re not ready to file.” Ross says you can’t technically file your state taxes with Direct File, but at the end of the process, it links you to another site where you can file your state taxes.“If you have unpaid tax after the deadline, you can pay up to 5% per month of the unpaid tax… that’s if you did not file an extension,” said Ross. “If you did file an extension, that goes down to half a percent per month.”“If you’re this close to the deadline, the mistake is that you’re rushing,” he said.
But there is no extension on payments, so if you expect to owe money, the IRS recommends you send a payment by Monday to avoid interest and other penalties. You can now watch 12News content anytime, anywhere thanks to the 12News+ app!
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